Donor-advised funds, which provide clients with an easy way to give to their favorite causes, experienced a sharp pickup in popularity during 2013. Advisers have turned to them as a way to help philanthropically inclined investors offset capital gains taxes, particularly in light of the American Taxpayer Relief Act of 2012 and the five-year bull market.
Fidelity Investments topped the list in both grants and assets in 2013, but the Silicon Valley Community Foundation experienced the most dramatic growth between 2012 and 2013.
|Donor-Advised Fund Overview*||2013||2012||% change|
|Charitable assets||$ 53.74B||$ 44.85B||19.8%|
|Total contributions||$ 17.28B||$ 13.99B||23.5%|
|Total grant dollars||$ 9.66B||$ 8.58B||12.6%|
|Total # of donor advised fund accounts||217,367||205,552||5.7%|
|Average size of donor advised fund*** account||$247,217||$218,054||13.4%|
** Grant Payout = Grant Dollars divided by Charitable Assets at end of prior year x 100 to get a percentage.
*** Donor Advised Fund. This average is the Total Assets Under Management divided by the Total Number of DAF Accounts.
|Charity||2013 Assets ($M)||% change vs. 2012||2013 GRANTS ($M)|
|Fidelity Investments Charitable Gift Fund||$10,218.1||35.2%||$1,800.0|
|Schwab Fund for Charitable Giving||$4,781.5||51.1%||$595.2|
|Vanguard Charitable Endowment Program||$3,590.2||30.3%||$501.2|
|Silicon Valley Community Foundation||$3,418.9||99.6%||$298.2|
|National Philanthropic Trust||$1,648.3||43.4%||$274.2|
|National Christian Foundation||$1,425.1||16.4%||$654.6|
|Jewish Communal Fund of New York||$1,163.2||16.6%||$272.2|
|Greater Kansas City Community Foundation||$1,074.9||36.5%||$84.3|
|New York Community Trust||$1,021.9||12.1%||$85.3|
|Renaissance Charitable Foundation||$639.0||31.0%||$69.1|